MINUTES
of the
Board of Control
Michigan Technological University
Houghton, Michigan
Meeting of
February 28, 2013
Table of Contents
Page
I.
Approval of Agenda
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II.
Opening Remarks
A. Chair’s Comments
B. President’s Comments
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9740
Committee Reports
A. Academic Affairs Committee
- Provost Report
- Research and Sponsored Programs Report
B. Finance and Audit Committee
- CFO Report
- Michigan Tech Fund Report
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9743
9746
9751
9752
9754
Consent Agenda
A. Approval of Minutes
B. Degrees in Course
C. Resignations, Retirements & Off Payroll
D. Gifts
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III.
IV.
V.
Action/Discussion Items
A. Employee Recognition
B. Emeritus Rank
C. Exclusion Resolution for the Department of Defense
D. Grant Application for the Michigan Coastal Management
Program
E. Approval to Purchase a Video Board for MacInnes Ice Arena
F. Proposal for a New Concentration in Business Analytics
G. Proposal for a Master of Geographic Information Science
H. Resolution for Authorizing the Issuance and Delivery
of General Revenue Refunding Bonds
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Deleted
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VI.
Reports
A. University Senate Report
B. Undergraduate Student Government Report
C. Graduate Student Government Report
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VI.
Informational Items
A. Analysis of Investments
B. University Issued Bond Balances
C. Research and Sponsored Programs
D. Advancement Report
E. Recent Media Coverage
F. Employee Safety Statistics
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Page
VIII.
Other Business
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IX.
Public Comments
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X.
Closed Session for Real Property Transactions and a
Periodic Personnel Evaluation of President Mroz
- Portage Golf Course Corporation
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XI.
Adjournment
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MINUTES OF THE FORMAL SESSION OF THE BOARD OF CONTROL OF
MICHIGAN TECHNOLOGICAL UNIVERSITY held pursuant to due call in Ballroom B of
the Memorial Union Building on the campus of Michigan Technological University in the
City of Houghton, Michigan at nine thirty o’clock on the morning of February 28, 2013.
The Board of Control of Michigan Technological University met in formal session at the
University's campus at Michigan Technological University in the City of Houghton, State of
Michigan, at 9:30 a.m., on the 28th day of February 2013, in Ballroom B of the Memorial
Union Building. The place, hour, and date duly established and duly published for the
holding of such a meeting.
The meeting was called to order by the Chair, S. Hicks, and a quorum was declared present.
The following members of the Board of Control were present:
S. J. Hicks, Chair
J. A. Fream, Vice Chair
T. L. Baldini
R. J. Jacquart
L. D. Kennedy
P. G. Ollila
T. J. Woychowski
G. D. Mroz, ex officio
The following members were absent:
L. D. Ashford
Also present during part or all of the session were: Dale R. Tahtinen, Secretary of the Board
and Vice President for Governmental Relations; Daniel D. Greenlee, Treasurer and Chief
Financial Officer; George Butvilas, Chair of the Michigan Tech Fund; Max Seel, Provost and
Vice President for Academic Affairs; David D. Reed, Vice President for Research; Ellen
Horsch, Vice President for Administration; Shea McGrew, Vice President for Advancement
and various members of the faculty, administrative staff, student body, press and public.
Where item numbers are used, they refer to corresponding item numbers in the agenda, in the
hands of the Board members.
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I.
APPROVAL OF AGENDA
Board Secretary, D. Tahtinen, recommended that the agenda be amended to delete item V-G.
Master of Geographic Information Science and to add item V-H. Resolution for Authorizing
the Issuance and Delivery of General Revenue Refunding Bonds.
It was moved by T. Woychowski, supported by T. Baldini, and passed by voice vote without
dissent, that the agenda of the formal session of February 28, 2013, as distributed to the
Board, be approved, as amended.
II.
OPENING REMARKS
Chair’s Comments
Good morning, and welcome to our first meeting in 2013.
It gives me great pleasure to welcome two new Board members, Linda Kennedy and Bob
Jacquart.
Linda is a shareholder in the Detroit office of Butzel Long PC, one of Michigan's oldest law
firms. Previously, she served as in-house counsel for Dow Chemical Co. and as a technical
writer for IBM’s software solutions division. Linda graduated from Michigan Tech in 1991
with a bachelor's degree in scientific and technical communication from Michigan Tech, and
holds a bachelor’s degree in chemistry and a law degree from the University of Minnesota.
Bob is chief executive officer of Jacquart Fabric Products, a textile designing and
manufacturing company his father began in 1958. Under Bob’s leadership, the company has
grown from a small storefront business to a thriving 80,000-square-foot complex with $15
million in annual sales, including the popular Stormy Kromer. He is the former chair of
Gogebic Community College's Board of Trustees, and a member of the Michigan Garment
Industry Council.
We are very pleased to have Linda and Bob on the Board. With their knowledge,
commitment and enthusiasm they will be able to hit the ground running, as we look forward
to a very productive year.
As many of you know, the Board and senior administration have been in a retreat the last few
days focusing on where Michigan Tech’s vision should be in 2035, where the world is
headed in the next 2-3 years and we execute our strategic plan. It provides a mechanism to
constantly monitor the outside world and how Michigan Tech creates the opportunities and
the agility to meet those needs going forward.
The retreat was energizing and we are looking forward to a bright future. From some
people’s perspective they can consider this challenging times. We consider this an
opportunistic time. There are challenges and we will continue to look at those, but there are
also opportunities that we will continue to focus on. We were very confident in walking
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away from the retreat with our vision, where we are headed, and how we will get there. I
also wanted to thank everyone for their thoughtful participation and looking at what’s in the
best interest for Michigan Tech now and in the future.
Here are a few highlights of some of the awards and special activities that have taken place
since our last meeting with respect to our vision of growing as a premier technological
research university of international stature, delivering education, new knowledge, and
innovation for the needs of our world and our goals.
Goal 1: A world-class and diverse faculty, staff and student population:
 Michigan Tech professor Michael R. Neuman has been named a Fellow of the
Institute for Electrical and Electronics Engineers for his contributions to the
advancement of biomedical sensors and instrumentation with clinical applications.
The Institute for Electrical and Electronics Engineers fellows are chosen for
extraordinary accomplishment in their field, and with more than 400,000 members, is
the world's largest professional association dedicated to advancing technological
innovation and excellence.
Goal 2: A distinctive and rigorous discovery-based learning experience:
 A team from Dollar Bay High School, part of Michigan Tech's High School
Enterprise program, has won the national George B. Hartzog Award for Outstanding
Volunteer Service in the youth volunteer category. The team, called SOAR (Student
Organization for Aquatic Robotics), has been working with the National Park Service
and the Lake Superior Stewardship Initiative on zebra mussel mitigation at Isle
Royale National Park. They designed remotely operated vehicles to monitor, research
and help park rangers locate the invasive species.

The Spring Career Fair was held last Tuesday, and despite the winter blizzard
conditions, 203 of the 229 companies slated to attend participated, and more than
2,000 interviews were held, making this the largest spring career fair to date. This is
less than six months since we had the Fall Career Fair which had over 280 companies
and over 4,000 interviews. Almost 600 companies visited campus in a matter of six
months, conducting about 6,000 interviews. If you look at what the customers are
seeking and where people are employing our students they are in very high demand.
That is a credit to the faculty, the administrative team and the students themselves.
Goal 3: World-class Research, Scholarship & Entrepreneurship and Creativity:
 CN, North America’s Railroad, has donated $500,000 to Michigan Technological
University's Rail Transportation Program to create the CN Endowed Fellowship in
Rail Transportation. This brings CN’s total funding to the program to $750,000.
Building on the CN Rail Transportation Education Center that opened in 2010, the
endowment will support rail transportation-related projects and research, as well as
hardware and software resources for students, and provide student scholarships.
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President’s Comments
President Mroz thanked the Board for participating in the retreat and welcomed new Board
members Linda Kennedy and Bob Jacquart.
The next few weeks are going to be really busy. In fact this is kind of a sprint to the end of
the term when you think about the number of seasons that are going to end with basketball
and hockey and the political season is heating up as well. The Governor has released his
budget, so we have some interesting things to discuss. We will be in Lansing next week
meeting with Legislators and the Governor to talk about higher education funding in general
and Michigan Tech specifically. The House of Representatives Higher Education
Appropriations Subcommittee has asked us specifically to talk about the affordability of
education, what we have done to make education more affordable for students, our cost
savings measures and certainly we will spend some time talking about all the great things
that happen as a result of their investment in Michigan Tech. We are also going to talk to
them again about MPSERS, which is a nine year saga on my part and at least one president
before that talking about it for ten years, and we are hopeful on getting some relief.
This week as Chair Hicks pointed out, we had a retreat with the Board. I also wanted to
thank the Board for having what was really an interesting exercise in trying to flush out what
are the things that scare us, or go bump in the night. What are the things people think are
going to get us off track with our strategic plan so that we can address those concerns and
confront the realities that people see out there. The person who was helping us through the
retreat basically used the analogy that you are a ship at sea with people on the ship navigating
the waters and then you have the Board that is in a helicopter above looking over the horizon
and seeing some of the things that could get us off track. So far we have been doing pretty
good with our Board being able to see over the horizon and ask the hard questions about the
risk issues that might cause us problems.
Another thing that came out of the retreat was motivation, and the difficulties that sometimes
come with getting motivated. One way to become motivated is to look to other people for
inspiration, and frequently we look to our students for inspiration and the amount of things
that they can accomplish in a very short period of time. I wanted to show you one example
of not only that, but also what diversity on a basketball team means. When you have a coach
that is so intelligent that he recruits a quarterback and a wide receiver to be on his team, you
will see what results. At this time, the Youtube clip from the Men’s Basketball game which
aired on ESPN’s Top Ten Plays was shown for the audience. T.J. Brown, Ben Stelzer and
Coach Kevin Luke were congratulated on a great performance.
President Mroz concluded his remarks by showing the Michigan Tech Accomplishments
Video.
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III. COMMITTEE REPORTS
Academic Affairs Committee Report
Mr. Woychowski provided the Board with the following report.
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Mr. Woychowski reported that the Academic Affairs Committee supports the New
Concentration in Business Analytics and the Emeritus recommendations.
9743
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Provost Report
Provost Max Seel provided the Board with the following report.
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9745
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Research and Sponsored Programs Report
Dr. Dave Reed provided the Board with the following report.
9747
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9748
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02/28/13
Finance and Audit Committee Report
Mr. Baldini provided the Board with the following report.
The Finance and Audit Committee met prior to meeting this morning by phone earlier this
month to review the University finances and other matters. We had a discussion regarding
the fiscal year 2014 budget. The Governor has proposed a 2.8% increase in our
appropriations and this is a proposal that has not been debated or voted upon yet by the
legislature. If the State sticks with their legislative calendar we could see a budget by June
30.
We also received an update on the plateau tuition plan that has been under review. The
Finance Committee supports this proposal and will recommend that it be part of the budget
proposal for approval at the May meeting with the expectation that the plateau tuition would
be implemented by this fall.
We also heard a report on the Lean Training Grant Program that will come to an end on
March 31, 2013. The Federal Mediation and Conciliation Service provided Michigan Tech
with a $55,000 grant to help acquaint the staff and facilitate the principles of the Lean
program. The work of the Michigan Tech Lean Group was presented at the CUPA Human
Resources Midwest Conference in May of 2012 in Milwaukee and it will also be presented at
the Upper Peninsula Labor Management Council Annual Conference next month. An article
entitled “Learning Lean Process Improvements” will be highlighted as a lead item in the
Business Intel section of the February 2013 issue of Business Office magazine from the
National Association of College and University Business Officers. The article features
selected improvement stories that tell the Lean Continuous Improvement story of Michigan
Tech.
The Committee was presented with a budget sheet, income statement, cash flow statement,
and projections for the next 10 years. This required a number of assumptions be made to
support and help us navigate the future, and is a continuing work in progress.
We also heard an update on the work of staff and a number of other universities to obtain
some relief regarding MPSERS retirement plan. This is a big item for us and our staff is
continuing to work on it. The University is hopeful that we can obtain some relief and it
could be substantial financially.
As a Committee we also supported the Grant Application for the Coastal Management
Program. We did this last year, but the federal government requires that every time we make
an application that it is approved by the Board.
There is also a resolution authorizing the issuance and delivery of general revenue refunding
bonds and the purchase of a video scoreboard for the MacInnes Ice Arena. It should be noted
that we received a gift for the purchase of the video scoreboard. The Finance Committee is
supportive of both of these items.
We will be having another phone conversation late March or early April for an update on
finances and further discussion on the budget as we move forward.
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CFO Report
Mr. Dan Greenlee provided the Board with the following report.
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9754
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Michigan Tech Fund Report
Mr. Butvilas provided the Board with the following report.
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IV. CONSENT AGENDA
It was moved by J. Fream, supported by P. Ollila, and passed by voice vote without dissent,
that the Board of Control approve and adopt the items contained in the Consent Agenda.
IV-A. Approval of Minutes
It was moved by J. Fream, supported by P. Ollila, and passed by voice vote without dissent,
that the minutes of the formal session of December 14, 2012, as distributed to the Board, be
approved.
IV-B. Degrees in Course
It was moved by J. Fream, supported by P. Ollila, and passed by voice vote without dissent,
that the Board of Control approves the awarding of the degrees as specified, to each of the
candidates listed, and offer congratulations.
Michigan Technological University
Degrees Awarded for Conferral Term 201208
Bachelor of Arts in Communication, Culture, and Media
Andrew Stephen Benda - Magna Cum Laude
Jonathan Dwayne Clifton
Kayla Renee Herrera
Steven M Holmes
Justin Theodore Jones - Magna Cum Laude
Samantha Savela - Cum Laude
Bachelor of Arts in English
Lacie Elizabeth Hollenbeck
Bachelor of Arts in Theatre and Entertainment Technology
Heather L Courier
Bachelor of Arts in Physics
Travis W Beaulieu - Magna Cum Laude
Lauren E Greenwood
Bachelor of Arts in Liberal Arts - History
Phyllis Brianna Butler
Bachelor of Arts in Scientific and Technical Communication
Michael Edward Friesen
Nora Catherine Heikkinen - Summa Cum Laude
Bonnie J Poplawski
Bachelor of Science in Accounting
Liangshun Gao - Cum Laude
Stephanie Lynn Kantola - Cum Laude
Elizabeth M Long
Allen P Moose
Jamie Leigh Palmer
Kelly Patricia Peck
Nathaniel F Piche
Eric C Stage
Yuxiao Wang
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02/28/13
Mengjiao Xiao
Jifu Yin
Junchao Zhu
Sarah A Zimmerman
Bachelor of Science in Business Administration
Lisa Marie Baier
Ryan Joseph Bunger
Jacqueline R Cowling
Teri Lynn Haapapuro
Christina M Ruth
Wade Douglas Thelen - Magna Cum Laude
Derek Scott Thurman
Bachelor of Science in Economics
Shan Lu
Ethan R Resteiner - Cum Laude
Bachelor of Science in Finance
Phillip Patrick Carroll
Thomas Ethan Harri
Lindsee Jean Willis
Bachelor of Science in Management
Yifu Hu
Lusheng Ma
Bachelor of Science in Management Information Systems
Emily Ann Jensen
Nicholas Lyon
Aaron Ronald Schroeder
Bachelor of Science in Marketing
Russell J Pietila
Bryce Wade Reddick
Todd H Storm
Bachelor of Science in Operations and Systems Management
Dennis Alfred Brown III
Bachelor of Science in Applied Geophysics
Danford Chadwood Moore
Bachelor of Science in Biomedical Engineering
Arjun R Banerjee
Stefanie C Bass - Magna Cum Laude
Daniel Mason Hirst
Hannah Marie Mikulich
Katie Jean Ross - Magna Cum Laude
Emily M Stroup - Summa Cum Laude
David Paul Stroup - Summa Cum Laude
Christina Louise Thrushman
Bachelor of Science in Engineering
Chelsey J Smith
Bachelor of Science in Civil Engineering
Brittany Lorraine Allen
David James Stewart Bays - Summa Cum Laude
Justin A Blake
Rachel Marie Brooks - Magna Cum Laude
Daniel Joseph Brugman - Summa Cum Laude
Jacob Francis Clark - Summa Cum Laude
Matthew Christopher Coburn
Matthew James Curtin
Kurt P Daavettila
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Alexander John Eppert
Joshua James Gerrits
Dustin Michael Griesing
Timothy Charles Guebert - Cum Laude
Phillip J Hass
Joshua Michael Hauswirth
Bradley E Hildebrand
Jordan Daniel Hoekwater
Mark Anthony Jakubik
Andrew Scott Karsten
Karl R Kemper
Chad Andrew Kohlhoff
Mark John Koivisto - Cum Laude
Nathan Edward Krause
Zachary Larry Kukkonen
Nathan D Laukka
Colton Gordon Lentz
Bryan Joseph Magnuson
Kyle David Marynik - Magna Cum Laude
Jeffrey Richard Oswald
Sean W Pickard
Adriano Rothschild
Troy A Sabo
Jonathan P Sanford - Magna Cum Laude
Rebecca Anne Sprys
Nicholas Jeffrey Steffey
Qitao Teng
Joshua Thomas Vander Hyden - Summa Cum Laude
Amanda Jane Workman
Minghao Wu
Sa Xiao
Nicholas William Yancy
Mackenzie E Young
Peng Yu - Summa Cum Laude
Xiaofei Zhang
Bachelor of Science in Chemical Engineering
Christopher Robert Catterson
Riley Edward Fair
Britta Jeriann Guse
Andrew R Higham
A'Lisa M Krawciw
Matthew Dean Krieg
Erik M Lacksonen - Cum Laude
Sarah Ashley Piccard - Magna Cum Laude
Brandon S Spigarelli
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Bachelor of Science in Computer Engineering
Marcus Henry Beltman
John Gilmore Bush - Magna Cum Laude
Thorvald David Hansen
Colleen Grace Johnson
Brandon S Lien
Sixing Liu
Kevin James Nelson - Magna Cum Laude
Matthew James Rathbun
Orlando A Reyes
Brett M Schiavo
Bachelor of Science in Electrical Engineering
Lealand J Anderson
Jacob J Augsburger - Magna Cum Laude
Michael James Bonvallet
Justin B Brown
Troy A Copenhaver - Cum Laude
Chris D Deiro
David Andrew Dugree - Cum Laude
Wuji Fan
Alexander J Hirzel - Cum Laude
Mark Andrew Jacobson - Magna Cum Laude
Brock M Keely
A'Lisa M Krawciw
Evan A Laske - Magna Cum Laude
Shijun Liu - Cum Laude
Peter Eric Lundin - Cum Laude
Thomas Matthew Marion
Allison Katherine McInnis
John Robert Potocki
David Gerald Priemer
Lloyd Arthur Ramseyer
Xingbo Song
Brian R Thompson
Xiaolei Brandon Zhang - Magna Cum Laude
Bin Zhou
Bachelor of Science in Environmental Engineering
Emily C Baker
Jessica Kathryn Daignault
Samantha Grace Dunne
Elizabeth Marissa Jefferson - Magna Cum Laude
Emily Anne Lang
Sarah Ann McCauley
Nathaniel B Peck
Mark David Pittenger
Ryan David Proulx
Cheriese Radionoff
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Griffin DK Roblyer
Angella Sigler
Joshua Murrell Strapec
Bachelor of Science in Geological Engineering
Laura Renee Schaner
Bachelor of Science in Geology
Ashley Alberta Wilderom
Bachelor of Science in Mechanical Engineering
Majed Farhan Shalal Al-Shammari
Elizabeth Anne Andrews
Matthew George Balling
Andrea Sharon Barendreght
Stefanie C Bass - Magna Cum Laude
Gregory Dean Belshaw
Andrew J Bitely
Abdulrahman Blaisi
Christopher Wayne Borns
Adrienne Lynn Breisacher
Drew Dosson Brennan - Magna Cum Laude
Seth Thomas Brezee
Garret Robert Brondyke
Mitchell Thomas Brown
Andrew C Buday
Jacob William Ceh
Han Cheng
Zachary Michael Coffman
David B Cook
Kalysta Jean Davis - Magna Cum Laude
Jesse Robert Dillon
James M Doornbos
Robert Paul Dreyer
Joshua Thomas Ehlert
John Michael Feldpausch
Andrew Owen Glaeser
Jason Daniel Hainer
Angela Nicole Hallo
Ryan D Harris
Clayton M Hendricks
Jacob Michael Henke
Josiah W Hooker
Brett Jacob Jenkins
Kyle J Kestila
Brian E Killian
John J Kosmatka
Benjamin J Kronberg
Joshua John Landwehr
Laura C Larsen
9768
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Brock Raymond Larson
Daniel Wayne Lorentz
Eric M Maddelein
James V Maercklein
Sean M Mazuchowski - Cum Laude
David Ira OConnor - Summa Cum Laude
Brian Edward Oestreich
Timothy John Palosaari
Kellene T Perry - Cum Laude
Michael Joseph Pertile
Craig R Pietila
Gary William Pleyte - Cum Laude
Philip D Potter - Cum Laude
Nicholas Allen Ragsdel
Scott Kenneth Rhudy - Magna Cum Laude
Steve Joseph Schaenzer - Cum Laude
Jared M Schlueter - Cum Laude
Saqib Jawad Sheikh
Venkatesh Vijaykumar Shetty
Wenlong Shi
Tongzhou Shi
Paul B Sleik - Cum Laude
Brett Joseph Sruba
Karl Patrick Stauty - Summa Cum Laude
Alicia Marie Steele
Thomas James Stutts - Cum Laude
Craig H Suydam
Jeffrey Jay Thompson - Magna Cum Laude
John Charles Tilleman
Alexander Drake Toy
Eric Mitchell VanDrie - Magna Cum Laude
Brittany Nicole Voshol - Cum Laude
Andrea J Walvatne
David Joseph Warakomski - Magna Cum Laude
Bryan David Warju II
Emily Ann Westerman
Robert Clayton Williams - Magna Cum Laude
David M Woller
Shiran Wu
Zhe Yang
Alexander Anthony Yosick
Yachan Zhang
Chad James Zunich
Bachelor of Science in Materials Science and Engineering
Jesse Robert Dillon
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Alicia Marie Steele
Bachelor of Science in Applied Ecology and Environmental Sciences
Michael R Bell - Cum Laude
Fay E Dearing
Justin D Link
Ethan David Pawlowski - Summa Cum Laude
Genevieve Margaret Rainey
Justina Aimee Silva
Chetwood Andrew VanAken
Bachelor of Science in Forestry
Ross Tyler-Case Brown - Cum Laude
Chad Daniel Dyke
Kevin A Ehlert
Gerald Phillip Jondreau - Cum Laude
Carl Ulrich Leonard
Brian Patrick Southerland
Spencer Dennis Townsend
Bachelor of Science in Wildlife Ecology and Management
Julius Roderik Dewald
Danielle L Keranen
Kevin Thomas King
Michelle Elizabeth Kroll - Cum Laude
William John Lytle
Bachelor of Science in Biological Sciences
Mandy Jelena Barbul-Couch
Jeremy D Fenske
Weixiang Liu
Michael Joseph Potes
Abigail E Raguse
Jessica L Ruuti
Ethan Thomas Shaver - Cum Laude
Bachelor of Science in Chemistry
Helen Kathleen Halt - Summa Cum Laude
Nicholle Irene Pierce - Magna Cum Laude
Rachel Emily Rees
Koressa Marie Reiter
Bachelor of Science in Clinical Laboratory Science
Brittany Sue Hardy
Molly J Laurin - Magna Cum Laude
Bachelor of Science in Computer Science
Aaron J Chism - Cum Laude
Bradley Allan Coesens
Brandon L Crowley
Stephan Christoph Ebert
Catherine Ann Fisher
Ruben D Garcia
Long Long He
Jeanette Ellen Head - Cum Laude
Matthew Tyler Heilbronn
Paul M LaMotte - Magna Cum Laude
Samuel Andreas Mattison
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Clark Eugene Mullen
Brent M Smolinske
John Phillip Turba
Timothy Ryan Ward
Joshua James Warfield - Summa Cum Laude
Bachelor of Science in Computer Systems Science
Joshua Aaron Myles
Nolan H Strong
Bachelor of Science in Exercise Science
Dustin J Harris
Santana Elaine Hill
Lindsey L Licht - Magna Cum Laude
Scott Matthew Donald Thompson
Bachelor of Science in Audio Production and Technology
Timothy Steven DeYoung
Grant Douglas Prusi
Bachelor of Science in Mathematics
Steven Allen Adam Bauer
Alexander T Bechanko
Brian Thomas Diehr - Magna Cum Laude
Elizabeth A Fujita - Cum Laude
Lydia Anne Jorgensen
Nathaniel A Reeser
Jacob W Shanafelt
Thomas Lee Tollefson
Bachelor of Science in Biochemistry and Molecular Biology
Faith Nichole Lambert
Trevor H Moser - Cum Laude
Alexandria Lee Schwalbe
Joseph J Smith
Bachelor of Science in Psychology
Amanda Lee Carlson
Lauren Nicole Dupey - Cum Laude
Holly Lynn Koehn
Bachelor of Science in Software Engineering
John Gilmore Bush - Magna Cum Laude
Zachary J Wolbers - Magna Cum Laude
Bachelor of Science in Sports and Fitness Management
Akeem S Cason
Jena Lynn Karkos
Kristopher Keith Willis
Bachelor of Science in Social Sciences
Alina Anne Pontynen
Bachelor of Science in Scientific and Technical Communication
Samantha Emily Allen - Cum Laude
Eric Michael Johnson - Summa Cum Laude
James Michael Leithead
Ting Wang - Cum Laude
Bachelor of Science in Construction Management
Frederick W Busch
Robert Lee Roy Cheesman
Andrew M McKenzie
Bachelor of Science in Computer Network and System Administration
Brent J Prough
Nathanael Peter Schenck
Bachelor of Science in Electrical Engineering Technology
Aaron D Kilpela - Cum Laude
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Jonathan Esteban Perez
Ryan Alexander Phelps - Cum Laude
Luke Anders Tofte
Lionel Williams
Bachelor of Science in Industrial Technology
Zachariah K Buck
Bachelor of Science in Mechanical Engineering Technology
Steven Kyle Cureton
Erik W Gulick
Michael Christopher Sexton
Kenton Daniel Waineo
Steven T Walter
Bachelor of Science in Surveying Engineering
Jason Michael Brown
Garrett Taylor Byrne
Matthew Christopher Coburn
Mark Anthony Jakubik
Brandon Marvin Jurmu
Kyle P Kilpela
Bryan Eugene LaChapelle
Joel Andrew Ortman
Master of Business Administr. in Business Administration
Gareth Bradley Johnson
Yin-Yin Tan
Master of Forestry in Forestry
James Cwiklik
Kyle Boyd Hampton
Cassandra J Liscomb
Kara Cecilia Oikarinen
Dale Wade Parris
Joanna D Rogers
Douglas O Sirrine
Master of Science in Chemical Engineering
Jithendar Rao Gujja
Jifei Liu
Zhichao Wang
Master of Science in Computer Engineering
Maira Maskevics
Ritesh Kotekar Udupa
Master of Science in Electrical Engineering
Douglas Lynn Badgero
Benjamin Harvey Bennink
Apoorva Mahendra Bhatt
Brandon Jay Davies
Sanjoy Kumar Debnath
Casey Dennis Demars
Pranitha Doppalapudi
Faysal Islam
Hemanth Kumar Kalepalli
Liang Ma
Ronald Craig Matthews
Thomas Robert Miller
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Nathan Paul Miller
Thomas William Nichols
Michael Alan Pezzetti
Rohith Reddy Seelam
Thirumal Rao Siruvole
Weston Harrison Thomas
Christopher Sol Verhulst
Ahmad Khaled Zarabie
Master of Science in Environmental Engineering
Wenchao Chen
Aditya Kumar
Huihui Lin
Jennifer Ann O'Neill
Master of Science in Geological Engineering
Abhishek Jain
Daniel M Smith
Master of Science in Geology
Kathleen Frances McKee
Lauren N Schaefer
Jessica Erin Smith
Master of Science in Mechanical Engineering
Cagri Abis
Anastasios Arvanitis
Tobias D Hackstock
Mihir Shrikant Hargapurkar
Kristopher Allan Kreh
Dustin Patrick Loveland
Daniel P Madison
Edmond Joseph Meyer
Priyanka Vijay Moharir
Andrew Finlay Rice
Ashley Ann Schultz
James Michael Sevik
Yash Surendra Solanki
Raghu Mohan Reddy Suravaram
Kaustubh Suhas Surdi
Sagar Suresh Srikant
Yanyu Wang
Andrew Lawrence Wiegand
Jeremy J Worm
Anqi Zhang
Master of Science in Materials Science and Engineering
Megan Ann Kreiger
Master of Science in Applied Ecology
Ruth Bennett
Laura Carolyn Kangas
Christa Marie Luokkala
Luis Miguel Verissimo
Master of Science in Forest Ecology and Management
Rocio Elizabeth Jimenez Vazquez
Lilli Matilda Kaarakka
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02/28/13
Bethany Jeanne Lyons
Master of Science in Forestry
Jonathan William Malette
Katie Marie Preston
Aino Aleksandra Virtanen
Master of Science in Biological Sciences
Robert Arnold Larson
Jaime F LeDuc
Master of Science in Chemistry
John S Maass
Srinivas Rao Mandalapu
Master of Science in Computer Science
Naga Veera Venk Chaganti
Lavanya Deshmukh
Yufeng Guo
Mohammed Imran Khan
Harriet Cook King
Xiang Li
Fan Shen
Sneha RajindarSingh Virdi
Ruimin Zhang
Master of Science in Mathematical Sciences
Yongliang Jin
Wen Zhang
Master of Science in Integrated Geospatial Technology
Justin Floyd Carter
Doctor of Philosophy in Civil Engineering
Baron Walter Colbert
Shu Wei Goh
Kenny Ng
Doctor of Philosophy in Chemical Engineering
Felix Kwame Adom
Qiaoyu Lu
Doctor of Philosophy in Computer Engineering
Xiaodao Chen
Sheng Hu
Shuo Huang
Doctor of Philosophy in Electrical Engineering
Jialiang Li
Congyi Liu
Ya Tian
Doctor of Philosophy in Geological Engineering
Miriam Rios Sanchez
Doctor of Philosophy in Materials Science and Engineering
Shangzhao Shi
Doctor of Philosophy in Engineering - Environmental Engineering
Meredith Marie Ballard LaBeau
Doctor of Philosophy in Forest Science
Emmanuel Ebanyenle
John Andrew Hribljan
Anne Catherine Pond
Alessia Uboni
Doctor of Philosophy in Mechanical Engineering - Engineering Mechanics
Liu Chen
Carrie Suzanne Hill
Chengzhang Li
Robert Lee Washeleski
Doctor of Philosophy in Mathematical Sciences
Yilin Dai
Raymond Edward Molzon
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IV-C. Resignations, Retirements & Off Payroll
It was moved by J. Fream, supported by P. Ollila, and passed by voice vote without dissent,
that the Board of Control accepts the resignations and confirms the off payroll
determinations.
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IV-D. Gifts
It was moved by J. Fream, supported by P. Ollila, and passed by voice vote without dissent,
that the Board of Control acknowledges the gifts to Michigan Technological University.
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V.
ACTION/DISCUSSION ITEMS
V-A. Employee Recognition
It was moved by J. Fream, support by T. Woychowski, and passed by voice vote without
dissent, that the Board of Control adopts the Resolution of the Board of Control of Michigan
Technological University In Appreciation for the following individuals:
1.)
2.)
3.)
4.)
Martha Sloan – 43 years of service
Martin Jurgensen – 42 years of service
Barbara Ruotsala – 37 years of service
Thomas Grimm – 36 years of service
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V-B. Emeritus Rank
Chairman Hicks announced that Martha Sloan has recently joined the Dillman Society,
which recognizes individuals who have made lifetime gifts to Michigan Tech totaling
between $250,000 and $499,000. Martha’s primary designation for these gifts is
scholarships, and as far as we know Martha is the first faculty member to have achieved this
level of giving.
It was moved by T. Woychowski, supported by T. Baldini, and passed by voice vote without
dissent that the Board of Control approves the following emeritus appointments:
1.) Dr. Martha A. Sloan, Professor Emerita, Department of Electrical and Computer
Engineering
2.) Dr. Margaret R. Gale, Professor and Dean Emerita, School of Forest Resources
and Environmental Science
V-C. Exclusion Resolution for the Department of Defense
It was moved by T. Baldini, supported by J. Fream, and passed by voice vote without dissent,
that the Board of Control adopts the Exclusion Resolution as presented herein.
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V-D. Grant Application for the Michigan Coastal Management Program
It was moved by T. Woychowski, supported by T. Baldini, and passed by voice vote without
dissent, that the Board of Control approves the submission of the grant application to the
Michigan Coastal Management Program for improvements to the waterfront.
V-E. Approval to Purchase a Video Board for the MacInnes Ice Arena
We have received gifts to buy a new scoreboard for the ice arena. The current scoreboard is
22 years old and the maintenance of this equipment is becoming costly due to the limited
availability of parts and outdated technology.
The video board will enhance the arena for our hockey games, as well as a variety of other
events including Commencement.
The total cost of the video board, including installation, is $615,000. The funding for the
project has been secured through external sources, and there is also opportunity for additional
revenue to be generated through advertising sales.
It was moved by B. Jacquart, supported by J. Fream, and passed by voice vote without
dissent, that the Board of Control approves the purchase of a Video Board for the MacInnes
Ice Arena at a cost not to exceed $615,000.
V-F. Proposal for a New Concentration in Business Analytics
It was moved by T. Woychowski, supported by P. Ollila, and passed by voice vote that the
Board of Control approves the New Concentration in Business Analytics within the Bachelor
of Science in Mathematics degree program.
V-G. Proposal for a Master of Geographic Information Science
This item was deleted from the agenda.
V-H. Resolution for Authorizing the Issuance and Delivery of General Revenue
Refunding Bonds
This is refinancing to actually improve the cash flow of the bonds, which is to the benefit of
the University. The Finance Committee has reviewed this and supports the resolution.
Ms. Fream pointed out that there was a revision to point 2, which is a change to the last
maturity date which originally was to go through December 31, 2040 and we are revising that
to December 31, 2029.
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Mr. Greenlee stated that there were three scenarios presented and the first scenario was the
one that Mr. Greenlee preferred is to extend them out to 2028. The second scenario would
have taken them out to 2038 and that would have been more expensive so we went with the
2028 date.
Ms. Fream indicated that the last date, as it is being approved, is December 31, 2029, but as
we initially looked at the structure of the financing it will be in 2028, so we put a little
leeway in there to allow for finalization of the structure. Bond counsel always throws in an
extra year or two on the end date for a little extra room.
It was moved by J. Fream, supported by B. Jacquart, and passed by voice vote without
dissent, that the Board of Control approves the Resolution as amended Authorizing the
Issuance and Delivery of General Revenue Refunding Bonds.
In a subsequent discussion Mr. Greenlee stated that there were two bond issues that we are
refunding. The first is part of the 2008 series which are the bullet payments which come due
in 2017, 2018 and 2019 of $10 million, and we are taking that out to 2028 which we had
discussed. The second is the 2006 bond issue which we are putting in the 2008 series is
about $2.5 million and that we are still keeping as its originally maturity date, but we are
getting a better rate in going from a 4.72% rate down to a 3.30% rate, and since it was issued
in 2006, the maturity date is 2036. Therefore, the final date on the bond resolution should be
around 2036 to 2037, not back down to the 2028, as there is a portion of it that matures in
2028 and there is another portion that runs out to 2036, which was the original maturity of
the 2006 bonds.
It was moved by T. Woychowski, supported by J. Fream, and passed by voice vote without
dissent that the previously approved bond resolution be amended to reflect the final date of
2038 and that the Board of Control approves the Resolution Authorizing the Issuance and
Delivery of General Revenue Refunding Bonds as presented.
RESOLUTION OF THE BOARD OF CONTROL OF
MICHIGAN TECHNOLOGICAL UNIVERSITY
AUTHORIZING THE ISSUANCE AND DELIVERY OF
GENERAL REVENUE REFUNDING BONDS AND PROVIDING FOR
OTHER MATTERS RELATING THERETO
WHEREAS, the Board of Control of Michigan Technological University (the
“Board”) is a constitutional body corporate established pursuant to Article VIII, Section 6 of
the Michigan Constitution of 1963, as amended, with general supervision of Michigan
Technological University (the “University”) and the control and direction of all expenditures
from the University’s funds; and
WHEREAS, the Board has previously issued General Revenue Bonds in several
series, and it may be appropriate and economic to refund all or any portion of the outstanding
principal maturities of those General Revenue Bonds (the outstanding bonds, if any, to be
refunded to be determined by an Authorized Officer (hereinafter defined) and to be herein
called the “Bonds to be Refunded”); and
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WHEREAS, in the exercise of its constitutional duties, and in order to control and
direct prudently expenditures from the University’s funds, the Board determines it is
necessary and desirable to authorize the issuance of General Revenue Bonds (the “Bonds”) in
order to provide funds which, together with other available funds, will be used to pay all or
part of the costs of refunding the Bonds to be Refunded; and
WHEREAS, a trust indenture (the “Trust Indenture”) must be entered into by and
between the Board and a trustee (the “Trustee”) to be designated by an Authorized Officer
(hereinafter defined), pursuant to which the Bonds will be issued and secured; and
WHEREAS, the indentures authorizing certain outstanding General Revenue Bonds
of the Board (the “Outstanding Bonds”) create certain conditions for the issuance of General
Revenue Bonds on a parity basis with the Outstanding Bonds; and
WHEREAS, the Chief Financial Officer and Treasurer shall, on or prior to the
delivery of the Bonds, certify that the conditions for issuing the Bonds, secured on a parity
basis by General Revenues with the Outstanding Bonds have been met; and
WHEREAS, it is necessary to authorize the Authorized Officers to negotiate the sale
of the Bonds with an underwriter or group of underwriters to be selected by an Authorized
Officer (collectively, the “Underwriter”) and to enter into a bond purchase agreement or
agreements (collectively, the “Bond Purchase Agreement”) with the Underwriter, setting
forth the terms and conditions upon which the Underwriter will agree to purchase the Bonds
and the interest rates thereof and the purchase price therefor; and
WHEREAS, in order to be able to market the Bonds at the most opportune time, it is
necessary for the Board to authorize the President and the Chief Financial Officer and
Treasurer (each an “Authorized Officer”) or either of them individually, to negotiate,
execute and deliver on behalf of the Board, the Trust Indenture, the Bond Purchase
Agreement, and other related documents, to establish the specific terms of the Bonds, and to
accept the offer of the Underwriter to purchase the Bonds, all may be deemed necessary and
desirable by an Authorized Officer and within the limitations set forth herein; and
WHEREAS, the Board has full power under its constitutional authority for
supervision of the University, and control and direction of expenditures from the University
funds, to refund the Bonds to be Refunded and of the refunding by issuance of the Bonds,
and to pledge General Revenues (as hereinafter defined) for payment of the Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF CONTROL OF
MICHIGAN TECHNOLOGICAL UNIVERSITY, AS FOLLOWS:
1.
The Board hereby approves and authorizes the Authorized Officers, or either
of them, to determine which, if any of the outstanding General Revenue Bonds of the Board
shall be refunded, based on whether such refunding would produce interest costs savings,
more favorable debt service schedules, or more flexible documentation, and to cause to be
called for redemption such of the those bonds as are appropriate and consistent with the
foregoing objectives.
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2.
The Board hereby authorizes the issuance, execution and delivery of the
Bonds of the Board in one or more series to be designated GENERAL REVENUE
REFUNDING BONDS, with appropriate series designations to be designated by an
Authorized Officer, in the aggregate original principal amount to be established by an
Authorized Officer, but not to exceed the principal amount of Fifteen Million Dollars
($15,000,000), necessary to accomplish the refunding of the Bonds to be Refunded, to be
dated as of the date or dates established by an Authorized Officer, for the purpose of
providing funds which, together with other available funds, will be used to pay all or a
portion of the costs of refunding the Bonds to be Refunded, and costs incidental to the
issuance of the Bonds and the refunding, including bond insurance premiums, if appropriate.
The Bonds shall be serial Bonds or term Bonds, which may be subject to redemption
requirements, or both, as shall be established by an Authorized Officer, but the first maturity
shall be not earlier than October 1, 2013 and the last maturity shall be no later than December
31, 2038. The Bonds may bear interest at stated fixed rates for the respective maturities
thereof as shall be established by an Authorized Officer, but the weighted average yield
(computed using the stated coupons and the stated original offering price) on the Bonds as a
whole shall not exceed 5.00% per annum, and the Bonds may be issued in whole or in part as
capital appreciation bonds, which for their term or any part thereof bear no interest but
appreciate in principal amount over time at compounded rate (not in excess of 5.00% per
annum) to be determined by an Authorized Officer. The Bonds may be subject to
redemption or call for purchase prior to maturity at the times and prices and in the manner as
shall be established by an Authorized Officer, but no redemption premium shall exceed 3%
of the principal amount being redeemed. Interest on the Bonds shall be payable at the times
as shall be specified by an Authorized Officer. The Bonds shall be issued in fully registered
form in denominations, shall be payable as to principal and interest in the manner, shall be
subject to transfer and exchange, and shall be executed and authenticated, all as shall be
determined by an Authorized Officer and provided in the Trust Indenture. The Bonds shall
be sold to the Underwriter pursuant to the Bond Purchase Agreement for a price to be
established by an Authorized Officer (but the Underwriter’s discount, exclusive of original
issue discount, shall not exceed 2.0% of the principal amount thereof) plus accrued interest,
if any, from the dated date of the Bonds to the date of delivery thereof.
3.
The Bonds shall be limited and not general obligations of the Board payable
from and secured by a first lien on the General Revenues (as shall be defined in the Trust
Indenture to include generally student tuition and other fees, housing and auxiliary revenues,
unrestricted gifts and grants, unrestricted investment income and other miscellaneous
revenues, subject to certain reductions, limitations and exceptions), and funds from time to
time on deposit in certain funds created pursuant to the Trust Indenture. The lien on General
Revenues created pursuant to this paragraph shall be on a parity basis with the lien thereon
securing the Outstanding Bonds of the Board.
No recourse shall be had for the payment of the principal amount of or interest or
premium on the Bonds, or any claim based thereof against the State of Michigan, or any
member, officer or agent of the Board or the State, as individuals, either directly or
indirectly, nor, except as provided in the Trust Indenture, against the Board, nor shall the
Bonds, and interest with respect thereto, become a lien on or be secured by any property,
real, personal or mixed of the State of Michigan or the Board, other than the General
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Revenues and the moneys from time to time on deposit in certain funds established by the
Trust Indenture.
Any pledge of General Revenues, and of funds specified in the Trust Indenture, shall
be valid and binding from the date of the issuance and delivery of the Bonds, and all moneys
or properties subject thereto which are thereafter received shall immediately be subject to the
lien of the pledge without physical delivery or further act. The lien of said pledge shall be
valid and binding against all parties (other than the holders of any other bonds, notes or debt
obligations secured by a parity first lien on General Revenues) having a claim in tort,
contract or otherwise against the Board, irrespective of whether such parties have notice of
the lien.
4.
The right is reserved to issue additional bonds, notes or other obligations
payable from and secured on a parity basis with the Bonds and the Outstanding Bonds from
the General Revenues, upon compliance with the terms and conditions as shall be set forth in
the Trust Indenture.
5.
Either Authorized Officer is hereby authorized and directed, in the name and
on behalf of the Board, and as its corporate act and deed, to select the Trustee, and to
negotiate, execute and deliver the Trust Indenture. The Trust Indenture may contain such
covenants on behalf of the Board and terms as such officers deem appropriate, including, but
not limited to, covenants with respect to the establishment of General Revenues at levels
expressed as a percentage of debt service on the Bonds or all General Revenue Bonds, and
with respect to the issuance of additional bonds, notes or other obligations payable from and
secured by General Revenues. In addition, if the Underwriter determines that the present
value of the interest cost savings to be produced by bond insurance will be in excess of the
cost of bond insurance, either Authorized Officer is hereby authorized, empowered and
directed to negotiate for the acquisition of bond insurance and to execute and deliver an
insurance commitment or other documents or instruments required in connection with such
insurance.
6.
Either Authorized Officer is hereby authorized and directed, in the name and
on behalf of the Board and as its corporate act and deed, to select the Underwriter and to
negotiate, execute and deliver the Bond Purchase Agreement with the Underwriter setting
forth the terms of the Bonds, all subject to the limitations set forth herein.
7.
The Authorized Officers, or either of them singly, are hereby authorized,
empowered and directed, in the name and on behalf of the Board, and as its corporate act and
deed, to execute the Bonds by placing his or her facsimile or manual signature thereon, and
to deliver the Bonds to the Underwriter, in exchange for the purchase price thereof, as
provided in the Bond Purchase Agreement.
8.
Either Authorized Officer is hereby authorized to cause the preparation of a
Preliminary Official Statement, if necessary, and an Official Statement with respect to the
Bonds, and to execute and deliver the Official Statement. The Underwriter is authorized to
circulate and use, in accordance with applicable law, the Preliminary Official Statement, if
any, and the Official Statement in connection with the offering, marketing and sale of the
Bonds.
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9.
The President, the Chief Financial Officer and Treasurer, the Secretary and
any other appropriate officer of the Board or the University are hereby authorized to perform
all acts and deeds and to execute and deliver for and on behalf of the Board all instruments
and documents required by this resolution, the Trust Indenture, or the Bond Purchase
Agreement, or necessary, expedient and proper in connection with the issuance, sale and
delivery of the Bonds, as contemplated hereby, including, if deemed appropriate, an escrow
deposit agreement with an escrow agent to be designated by an Authorized Officer. Each
Authorized Officer is hereby authorized to designate and empower the escrow agent or the
Underwriter to subscribe for United States Treasury Obligations, State and Local
Government Series, on behalf of the Board, as may be necessary in connection with any
refunding authorized hereby. Any reference to an officer of the Board or the University
herein shall include any interim or acting officer appointed by the Board. Any action
required under the Trust Indenture, the Bond Purchase Agreement, or other instrument
related to the Bonds or the operation and administration of the financing program evidenced
by the Bonds, may be taken by and on behalf of the Board by an Authorized Officer.
10.
In accordance with the requirements of Rule 15c2-12 of the United States
Securities and Exchange Commission, the Board may be required in connection with the
issuance of the Bonds to enter into a Disclosure Undertaking for the benefit of the holders
and beneficial owners of the Bonds. Either Authorized Officer is authorized to cause to be
prepared and to execute and deliver, on behalf of the Board, the Disclosure Undertaking.
11.
All resolutions or parts of resolutions or other proceedings of the Board in
conflict herewith be and the same are hereby repealed insofar as such conflict exists.
I hereby certify that the attached is a true and complete copy of a resolution adopted
by the Board of Control of Michigan Technological University at a regular meeting held on
February 28, 2013, and that said meeting was conducted and public notice of said meeting
was given pursuant to and in full compliance with applicable law, and that the minutes of
said meeting were kept and will be or have been made available as required by applicable
law.
I further certify as follows:
1.
Present at the meeting were the following Board members:
__________________________________________________________________
__________________________________________________________________
Absent from the meeting were the following Board members:
__________________________________________________________________
2.
The following members of the Board voted for the adoption of the Resolution:
__________________________________________________________________
_________________________________________________________________.
The following members of the Board voted against adoption of the Resolution:
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_________________________________________________________________.
RESOLUTION DECLARED ADOPTED.
___________________________________
Secretary to the Board of Control
of Michigan Technological University
VI. REPORTS
A. University Senate Report – Dr. Bill Bulleit, President
B. Undergraduate Student Government Report – Mr. Eli Karttunen, President
C. Graduate Student Government Report – Mr. Kevin Cassell, President
Copies of these reports were included in the agenda book.
VII. INFORMATIONAL ITEMS
A. Analysis of Investments
B. University Issued Bond Balances
C. Research and Sponsored Programs
D. Advancement Report
E. Recent Media Coverage
F. Employee Safety Statistics
VIII. OTHER BUSINESS
There was no other business at this time.
IX.
PUBLIC COMMENTS
There were no public comments at this time.
X.
CLOSED SESSION FOR REAL PROPERTY TRANSACTIONS AND A PERIODIC
PERSONNEL EVALUATION OF PRESIDENT MROZ
It was moved by J. Fream, supported by K. Clark, and passed by voice vote without dissent,
that the Board of Control proceed into closed session for a periodic personnel evaluation of
President Mroz. (A closed session for such a purpose is provided for in Sections 8 (a) and
(d) of P.A. 267 of 1976). (A roll call vote is required).
Roll Call Vote:
Kennedy – Yes
Ollila – Yes
Hicks - Yes
Woychowski - Yes
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Fream – Yes
Baldini – Yes
Jacquart - Yes
The motion passed.
The Board of Control reconvened in open session with a quorum present.
Portage Golf Course Corporation
It was moved by P. Ollila, supported by L. Kennedy, and passed by voice vote without
dissent, that the Board of control approves execution when required for license issuance, by
the President, Vice President of Administration, Secretary or Treasurer of applications for a
license, license and a conveyance transferring those portions of the Student Development
Complex skybox and proposed Biergarten areas as described in the presentation to the Board,
to Portage Golf Course Corporation concurrent with receipt and execution of a lease for the
property from Portage Golf Course Corporation to Michigan Technological University all in
a form to be approved by any of the above University Officers.
PROPERTY LEASE
The Portage Golf Course Corporation, a Michigan Non-profit Corporation, of Hancock,
Michigan, the LESSOR, and Michigan Technological University, of Houghton, Michigan,
the LESSEE, enter into this lease subject to the following conditions:
1. Premises. The LESSOR leases to the LESSEE the property described as those portions,
and only those portions of the Michigan Technological University Student Development
Complex described below, being within a parcel described as:
The specific parcels being leased hereby are:
This Lease does not include any personal property now or hereafter placed on the
premises, all personal property currently thereon being owned by LESSEE and any
hereafter placed thereon to remain the property of LESSEE.
2. Term. The term of this lease shall be for an initial term of 50 years commencing on
, 20 , (commencement date). Upon expiration of the
initial term LESSEE may, at its option, renew this lease for one additional term of 50
years on the same terms.
3. Rent.
a. Rent. The LESSEE shall pay the LESSOR $100 per year as rent for the premises,
payable on each December 31, in advance, commencing on Dec. 31, 2013. Pro-rata
rent for 2013 has been paid upon lease execution.
b. Additional rent. The LESSEE shall also be responsible for the payment of any taxes
assessed upon the real estate or any of LESSEE’S personal property placed thereon,
the cost of all insurance on the premises as required by this lease or as desired by
LESSEE, all utility services for the premises including water, sewer, gas, electricity,
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heat, and all other costs of operation of the premises. The LESSEE shall pay for these
and all other services or costs contracted for, received by, incurred by or imposed
upon LESSEE or arising out of the premises or LESSEE’S operations and activities
thereon on a current basis. No such charges or costs will be permitted by LESSEE to
be delinquent or to result in the imposition of any liens or claims against the premises.
In addition, any fees, costs, or expenses incurred by the LESSOR for enforcing the
LESSEE'S obligations under this lease, including reasonable attorney fees, shall be
additional rent owing under the lease and shall be immediately due and payable by
the LESSEE. This lease is a net-net lease to LESSOR with LESSOR to receive its full
rent and to have no cost arising out of the property ownership or use that is not
reimbursed by LESSEE as additional rent.
4. Acceptance of occupancy. The LESSEE shall commence occupancy of the premises
hereunder on the commencement date. The LESSEE acknowledges that the premises are
in a state of repair that is acceptable for the LESSEE'S intended use of the premises. The
LESSEE accepts the premises as they are including all structures currently on the
premises.
5. Vacation of the premises. The LESSEE shall not vacate or abandon the premises during
the term of this lease. If the LESSEE does abandon or vacate the premises or is
dispossessed by process of law or otherwise, any of the LESSEE'S personal property that
is left on the premises shall be deemed abandoned by the LESSEE, at the option of the
LESSOR.
6. Use. The premises are to be used and occupied by the LESSEE for the continued
operation and maintenance of the facilities as previously operated and maintained on the
real estate including as a portion of the Student Development Complex serving the
students, faculty, staff and guests of Michigan Technological University and for any other
purpose determined by the LESSEE to be in furtherance or support of its educational and
research mission as authorized by Michigan law and the Constitutional purposes and
powers granted to Michigan Technological University as an autonomous Constitutional
non-profit educational institution. No activity shall be conducted on the premises that
does not comply with all state and local laws or which is not permitted by the legislative
and constitutional powers granted to Michigan Technological University.
7. Repairs and maintenance. The LESSEE shall be solely responsible for all maintenance
and repair of the premises and of all structures and improvements thereon. The LESSEE
must operate, repair and maintain the premises and all structures and improvements now
or hereafter erected by LESSEE so as to keep the same in at least its current condition at
all times during this lease, all at the LESSEE'S sole expense. The premises shall be kept
in good and safe condition in compliance with all applicable rules and regulations.
8. Surrender of the premises upon expiration. The LESSEE shall surrender the premises to
the LESSOR when this lease expires in substantially the same condition as on the
commencement date, except for normal wear and tear.
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9.
Entry and inspection. The LESSEE shall permit the LESSOR or the LESSOR'S agents
to enter the premises at reasonable times and with reasonable notice, to inspect the
premises.
10. Taxes and assessments. The LESSEE shall pay all real and personal property taxes and
assessments, if any, levied against the premises during the term of this lease. All taxes, if
any, levied on personal property owned or leased by the LESSEE are the sole
responsibility of the LESSEE. Both parties intend the property to be exempt from
taxation and to be used as permitted by MCL 211.7 and 211.7 (o) and (m) and (n).
11. Alterations. The LESSEE may remodel and improve the premises, including but not
limited to by expansion or modification of the existing golf course, renovation,
remodeling, repair or reconstruction of existing structures and improvements, the
construction of any improvements or additional holes or services on the course and the
construction of additional structures and any other improvements determined by
LESSEE to be in the best interests of LESSEE. Any structures or other real
improvements constructed on the premises shall become the property of the LESSOR
upon lease termination and any personal property placed thereon by LESSEE shall
remain the property of LESSEE.
12. Assignment and subletting. The LESSEE may not assign, sublet, or otherwise transfer or
convey its interest or any portion of its interest in the premises without written consent
from the LESSOR, which consent shall not be unreasonably withheld if LESSEE is able
to demonstrate that such assignment is in LESSEE’S best interests and in support or
development of its Constitutional and statutory educational goals and purposes.
13. Trade fixtures. All inventory, equipment, personal property, trade fixtures and movable
equipment installed by the LESSEE in connection with its operation of the premises
shall remain the property of the LESSEE, be maintained solely by LESSEE and shall be
removed when this lease expires. The LESSEE shall repair any damage caused by the
removal of such fixtures, and the premises shall be restored to the original condition
upon lease termination.
14. Insurance. The LESSEE shall insure the premises, including all buildings and
improvements, for the replacement cost of the buildings and improvements, against loss
or damage under a policy or policies of fire and extended coverage insurance or under
such policies or programs of self insurance as LESSEE maintains for its other properties.
The LESSEE shall also obtain and maintain in full force general liability and property
damage insurance or self insurance under such programs as LESSEE maintains for its
other properties with coverage of not less than two million dollars for injury or death to
any one person, five million dollars for injury or death to more than one person, and
three hundred thousand dollars for property damage, covering all claims for bodily
injury or death, or damage to property occurring on, or as a result of operations or
activities on, the leased premises. All policies must be endorsed to name LESSOR and
LESSOR’S directors and officers as additional insureds with respect to any claims for
bodily injury or property damage occurring on or as a result of activities on the leased
premises. LESSEE does not waive any governmental immunity to which it is entitled by
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the agreements contained herein nor shall any provision hereof be for or intended for the
benefit of any third party.
15. The LESSEE'S liability. All the LESSEE’S personal property, including trade fixtures,
on the premises shall be kept at the LESSEE'S sole risk, and the LESSOR shall not be
responsible for any loss or damage that is occasioned by the acts or omissions of persons
occupying the premises or any property adjacent to or connected with the premises.
LESSEE shall be solely responsible for the operation and management of any activities
on the premises, including the purchase and ownership of all personal property and
equipment, and the obtaining of all licenses and permits. LESSOR shall not in any
manner be considered a partner, joint venturer, associate, or participant in any activities
of LESSEE nor having any control or right to control such activities.
16. Destruction of the premises. If the premises are partially damaged or destroyed the
LESSEE shall, at its own expense, promptly repair and restore the premises. If the
premises are partially damaged, rent shall not abate in whole or in part during the period
of restoration.
17. Mutual releases. The LESSOR and the LESSEE, and all parties claiming under them,
release each other from all claims and liabilities arising from or caused by any hazards
covered by insurance on the leased premises or covered by insurance in connection with
property or activities on the premises, regardless of the cause of the damage or loss. The
LESSOR and the LESSEE shall each include appropriate clauses waiving subrogation
against the other party, consistent with the mutual release in this provision, in their
insurance policies on the premises.
18. Condemnation. If any part of the premises is taken for any public or quasi-public
purpose pursuant to any power of eminent domain, or by private sale in lieu of eminent
domain, either the LESSOR or the LESSEE may terminate this lease, effective the date
the public authority takes possession. All damages for the condemnation of the premises,
or damages awarded because of the taking, shall be payable to the LESSOR and
LESSEE in proportion to the value of their respective interests in the property and
improvements.
19. Default and reentry. If the LESSEE fails to pay rent when due or fails to perform any
other obligations under this agreement within 30 days after receiving written notice of
the default from the LESSOR; or if not correctable immediately fails to take all
reasonable steps within 30 days of such notice to initiate remediation of the default
LESSOR may terminate this lease, reenter the premises, and seek to relet the premises
on whatever terms the LESSOR thinks advisable consistent with LESSOR’S purposes.
In addition to the LESSOR'S other rights and remedies as stated in this lease, and
without waiving any of those rights, if the LESSOR deems necessary any repairs that the
LESSEE is required to make or if the LESSEE defaults in the performance of any of its
obligations under this lease, the LESSOR may make repairs or cure defaults and shall
not be responsible to the LESSEE for any loss or damage that is caused by that action.
The LESSEE shall immediately pay to the LESSOR, on demand, the LESSOR'S costs
for curing any defaults, as additional rent under this lease.
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20. Notices. Any notices required under this lease shall be in writing and served in person or
sent by registered or certified mail, return receipt requested, to the addresses of the
parties stated in this lease or to such other addresses as the parties substitute by written
notice. Notices shall be effective on the date of the first attempted delivery.
21. The LESSEE'S possession and enjoyment. As long as the LESSEE pays the rent as
specified in this lease and performs all its obligations under this lease, the LESSEE may
peacefully and quietly hold and enjoy the premises for the term of this lease to the
exclusion of all other persons.
22. Option to purchase. LESSOR hereby grants to LESSEE the irrevocable first option and
right to purchase the property and all improvements thereon at the time of exercise of
this option. The purchase price to be paid by LESSEE to LESSOR at closing shall be
one hundred dollars if exercised during the first 10 years of the lease term, two hundred
dollars if exercised during the second ten years of the lease term, three hundred dollars if
exercised during the third ten years, and similarly increasing the purchase price by one
hundred dollars each ten years thereafter during the lease term and any renewal term.
Upon exercise of this option by LESSEE, LESSOR shall convey marketable title,
subject only to any liens, restrictions or encumbrances which existed on the property at
the time of LESSOR’S acquisition of title or were placed thereon by or as a result of
LESSEE’S operations thereon.
23. Notice of Lease. Both parties agree to execute, upon request of the other and in form
mutually acceptable to both, a notice of lease in recordable form providing notice of the
existence of this lease agreement and of the purchase option rights granted herein.
24. Entire agreement. This agreement contains the entire agreement of the parties with
respect to its subject matter. This agreement may not be modified except by a written
document signed by the parties.
25. Waiver. The failure of the LESSOR to enforce any condition of this lease shall not be a
waiver of its right to enforce every condition of this lease. No provision of this lease
shall be deemed to have been waived unless the waiver is in writing.
26. Binding effect. This agreement shall bind and benefit the parties and their successors
and permitted assigns.
27. Time is the essence. Time is the essence in the performance of this lease.
28. Effective date. This lease shall be effective _________________________, 20___.
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LESSOR
LESSEE
PORTAGE GOLF COURSE
CORPORATION: a Michigan
Non-Profit Corporation
MICHIGAN TECHNOLOGICAL
UNIVERSITY
____________________________
By: Michael C. Henricksen, Pres.
_________________________________
By: Glenn D. Mroz, Pres.
Subscribed and sworn to before me,___________________________, a notary public, on this
___________day of __________________, 2013 by Michael C. Henricksen as President of
the Portage Golf Course Corporation.
______________________________
Notary Public
County, Michigan
My Commission Expires:
Subscribed and sworn to before me,___________________________, a notary public, on this
___________day of ___________________, 2013 by Glenn D. Mroz, as President of
Michigan Technological University.
_______________________________
Notary Public
County, Michigan
My Commission Expires:
XI.
ADJOURNMENT
It was moved by J. Fream, supported by P. Ollila, and passed by voice vote without dissent,
that the meeting be adjourned.
_______________________________________
Secretary of the Board of Control
___________________________________
Chair, Board of Control